SONAR|HES-SO

SONAR|HES-SO

SONAR|HES-SO regroupe les travaux de bachelor et master diffusables de plusieurs écoles de la HES-SO. Consultez cette page pour le détails.

En cas de question, merci de contacter les bibliothécaires de la HES-SO : bibliotheques(at)hes-so.ch

Advanced studies thesis

Is green the new black ? : sustainable luxury : challenge or strategic opportunity for the luxury sector

    2014

1 vol.

Mémoire de Master Advanced Studies (MAS): Haute école de gestion de Genève, 2014

English We are living in a world surrounded by the effects of climate change. A world exposed to the anxiety of future population and economic growth impacts such as decreasing resources and biodiversity. With a population of nine billion people by 2050, business as usual will not be an option. Sustainability has become more than a buzz‐word. It has turned into a global mindset. Already in 2007, the WWF report Deeper Luxury confirmed that environmental consciousness is rising amidst consumers and is no longer the preoccupation of a minority. In 2013, a report from GfK showed that an increasing interest in sustainability is equally reaching emerging markets. Luxury consumers expect excellence and would be scandalised if a luxury product wasn’t “green”. However, whereas most people believe that luxury is a guarantee for quality, most do not believe that it is a guarantee for sustainability. Especially the younger generation is increasingly socially conscious and suspicious at the same time. Despite a large interest in ethical engagement, the luxury consumer is lacking of information due to an absence of transparency from luxury brands on sustainability. An estimated 60% of luxury brands are still hesitant and passive in regards to sustainable management integration. The motivations of the remaining brands have been classified in four distinct areas: Sustainability through conviction: These brands are characterised through the convictions of their founders aiming to educate and create value for all parties. Sustainability as a business model: Social and environmental commitment are an integral part of the DNA of these brands ensuring transparency and traceability through an integrated ethical management. Sustainability by nature: These brands did neither have a specific sustainable conviction nor do they communicate about it but sustainability is in fact part of their normal manufacturing process. Sustainability as risk management: Not adhering to social and sustainable standards is becoming a threat to the brand image, reputation and capital. Stakeholder’s interest is at the core of these businesses. Outside of the luxury sector, reputation management has become one of the top three reasons for executives to integrate sustainability into their operations. As the luxury industry is on the frontline of criticism for a lacking sustainable management, not so much for its objective impact but more for its symbolic power, and as its impeccable reputation is essential to keep high profit margins, luxury has a crucial interest in adhering to corporate responsibility. The sector needs to move out of its comfortable waiting position and prove excellence equally in sustainability. Although both sectors seem to contradict each‐other at first, they share values such as excellence, transmission, quality, heritage and craftsmanship. Eight drivers have been identified that ensure the success of future luxury: - Learning each‐others language - Safeguarding reputation - Creativity and innovation - Active engagement - Stakeholder pressure - The new generation - The sustainable dream - Sustainability as a selling tool If luxury does not want to miss the opportunity to lead in sustainable excellence it has to act now. An integrated sustainable management is the future of any business because it makes economic sense, it is demanded by people and the planet and it protects reputation.
Language
  • English
Classification
Economics
Notes
  • Haute école de gestion Genève
  • Formation continue
  • hesso:hegge
License
License undefined
Identifiers
  • RERO DOC 232870
  • RERO R007929993
Persistent URL
https://sonar.ch/hesso/documents/314362
Statistics

Document views: 176 File downloads:
  • MASLU_Mauer_Esther.pdf: 504